teledata, another hot penny to participate in rotational micro penny theme play

Settlement is not expected to have any material financial impact on the Company for the financial year

ending 31 December 2012.Settlement”). The

cooperation in probe

SINGAPORE

In a stock exchange filing, Teledata said it received a notice from the CAD on July 5, requiring its assistance in  a probe for an offence under the Securities and Futures Act.

The CAD requested that Teledata provide information and documents on several transactions and correspondence between August 2009 and March 2010.

These include the proposed acquisition of PT Centrin Online TBK, purchase of the company’s shares by Calypso Management Holdings and emails involving Mr Christopher Michael Pan, the former chief executive officer of Teledata.

The CAD also requested for a list of Teledata’s company directors, management personnel and corporate secretary.

The company was told to provide documents relating to its stock exchange filings between Oct 29, 2009 and Dec 22, 2009, and submit its board of directors resolutions and minutes of meetings from August 2009 to March last year.

Teledata said that the documents requested pertain to the its previous board and management and that none of its current staff are under investigation.— Mainboard-listed Teledata has pledged full co-operation in an ongoing investigation by the Commercial Affairs Department (CAD) — the details of which were not disclosed.

lOOks  lIke

HDB  has  nO fUtUre  ? ? ? ?

StockGuru      ( Date: 19-Jan-2010 18:30) Posted: Anybody bought this baby too? With all the fibre optics inbuilding into our HDBs. Teledata is our FUTURE!

nOw  it  is S$0.035  ? ? ? ?

What happened  ? ? ? ?

Teledata sued by ex-CEO

Jo-ann Huang

joannhuang@mediacorp.com.sg

SINGAPORE

Teledata has been sued by its

former chief executive officer

Christopher Michael Pan for alleged

wrongful termination of

his employment.

In a filing to the Singapore

Exchange yesterday, the company

said that it received the

writ of summons from Mr Pan

on Sept 9, with a claim for

$1.3 million.

Teledata’s board of directors

said the company would

be contesting the claim “vigorously”

and would be filing a

counterclaim.

The company had previously

received a letter of demand

by Mr Pan on Aug 20.

In that letter, he had

claimed $1.3 million for alleged

wrongful termination of his

employment, unspecified compensation

for damage allegedly

caused to his reputation, an

apology and an indemnity for

his legal costs and expenses.

Mr Pan’s termination was

announced on June 18. This was

after he was voted off by a majority

of shareholders, representing

71.6 per cent of shares,

at Teledata’s annual general

meeting held on April 30.

Teledata said Mr Pan was

terminated “on the grounds

that he has committed acts

tending to bring the company

and/or himself into disrepute”.

He was appointed as CEO

in November last year, also taking

over chairmanship duties

from Mr Quek Chek Lan.

Separately, the company

announced yesterday the appointment

of three new directors

to its board. Ms Irene

Valencia Goutama has been

appointed as a non-executive

director and Mr Lim Soon Hock

and Mr Husni Heron as independent

directors.

The company added that

Mr Wee Phui Gam had quit as

an independent director.

His resignation came after

executive director Mr Rayson

Hazra quit in August. Managing

director Mr Howard Kim

will also be stepping down on

Sept 30.

Mr Lim Jit Siew, chief financial

officer of Teledata, is currently

the only executive director

left on the board. He remains

despite previous attempts by

major shareholder Meritus Resources

to remove him.

Teledata shares rose half

a cent to 3.5 cents yesterday,

giving it a market capitalisation

of $42.7 million. The company

had reported net losses

of $2.5 million for its half year

period ended June 30.— Regional IT firm